Powerhouse Energy Group PLC European Patent update (4158S)

TIDMPHE

RNS Number : 4158S

Powerhouse Energy Group PLC

06 November 2023

6 November 2023

Powerhouse Energy Group plc

European Patent update

Powerhouse Energy Group plc (the "Company" or "PHE") makes reference to its announcement on 15 September 2023 regarding the grant of its European patent application (the "Grant).

On 3 November 2023 the Company received notification from the European Patent Office ("EPO") that the process for publication of the specification of the patent covered by the Grant was stayed on 9 October 2023. The Company has been advised by its Patent Attorneys that this is standard practice where a third party advises the European Patent Office that proceedings for entitlement to a patent have been commenced in the Courts of a contracting State. The Company has also been advised that the 'stay' attached to a granted patent would be removed upon the dismissal of such a claim.

On 6 October 2023 an as-yet unspecified claim against the Company brought by GetGo Recycling Limited (14520867) ("GetGo" or the "Claimant") was filed in the High Court in London (Patents Court (the "Claim") .

The Company considers the Claim to be entirely without merit and vexatious and will vigorously defend any claim on its Intellectual Property.

The Company has not had any dealings or any communication with GetGo informing the Company of the Claim. The Company became aware the Claim had been filed via a third party. There is no detail or information in the filing of the Claim. In addition, the Claimant (i) did not send to the Company a letter of claim in accordance with the Code of Practice for pre-action conduct in intellectual property disputes, (ii) has not filed Particulars of Claim in accordance with the Civil Procedure Rules applicable to actions in the High Court, and (iii) has not served the Claim on the Company.

The Company understands that, if GetGo decides to pursue the Claim, service has to take place within four months from the date of filing, i.e. by 6 February 2024, and that timescales then apply for delivering to the Company the Claimant's detailed Particulars of Claim.

Antony Gardner-Hillman, Chairman of PHE, commented:

"As regards the European Patent Office Communication, I am advised by our patent attorneys there is no significance in this and that it is a normal procedural step when entitlement proceedings have been commenced in respect of a patent.

As regards the proceedings themselves, we do not foresee any impact on PHE's ongoing work or interference with the company's business. We will deal with this as an ordinary day-to-day challenge of a kind I have seen and dealt with successfully before in my career, acting in the appropriate way and with due regard. I do not know the claimant company and I believe its action is intended to "soften" PHE as the targeted party before a follow-on approach on something unrelated. We shall wait and see whether this is the case and we shall respond accordingly. In the meantime, the Company has filed a claim for defence legal costs indemnity under its Intellectual Property insurance policy and is in the process of instructing IP litigation solicitors. Whether or not the Claimant's actions are strategic and for a peripheral purpose, we will be well positioned to respond appropriately.

From the perspective of PHE, I regard these events as just another stage in the journey of a company which is developing and protecting proprietary technology which is sufficiently exciting to attract the attention of others who can see that it holds value."

For more information, contact:

 
 Powerhouse Energy Group plc 
  Antony Gardner-Hillman                     +44 ( 0) 7733 146326 
 WH Ireland Limited (Nominated Adviser) 
  James Joyce 
  James Bavister                           [phone] 
 Turner Pope Investments (TPI) Ltd 
  (Joint Broker) 
  Andrew Thacker 
  James Pope                               [phone] 
 Tavistock (Financial PR)                  [e-mail] 
  Simon Hudson 
  Nick Elwes 
  Heather Armstrong 
 

The information contained within this announcement is deemed to constitute inside information as stipulated under the retained EU law version of the Market Abuse Regulation (EU) No. 596/2014 (the "UK MAR") which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. The information is disclosed in accordance with the Company's obligations under Article 17 of the UK MAR. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

About Powerhouse Energy Group plc

Powerhouse Energy has developed a process technology which can utilise waste plastic, end-of-life-tyres, and other waste streams to convert them efficiently and economically into syngas from which valuable products such as chemical precursors, hydrogen, electricity, heat and other industrial products may be derived.

Powerhouse Energy's process produces low levels of safe residues and requires a small operating footprint, making it suitable for deployment at enterprise and community level.

Powerhouse Energy is quoted on the London Stock Exchange's AIM Market under the ticker: PHE and is incorporated in England and Wales.

For more information see www.powerhouseenergy.co.uk

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

UPDNKPBBDBDBPDK

(END) Dow Jones Newswires

November 06, 2023 02:00 ET (07:00 GMT)